Credit Tips: How Long are Bad Debts on Your Credit Report

Posted On: January 1, 2006

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Posted: Thu Sep 23, 2004 11:16 pm
Post subject: How Long are Bad Debts on Your Credit Report

Bill Lee
Date: 3/4/2001 9:45 pm CDT

I went through a divorce and have very poor credit. I have not filed for bankruptcy nor have I made any payments for 7 years. I want to establish my credit again but do not want allot of inquiries.

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Posted: Thu Sep 23, 2004 11:16 pm
Post subject: How Long are Bad Debts on Your Credit Report

Linda in VA
Date: 3/4/2001 11:11 pm CDT

Bill, if it’s been 7 years, most of it should be coming off your credit reports. Have you looked at them? It might not be as bad as you think.

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Posted: Thu Sep 23, 2004 11:17 pm
Post subject: How Long are Bad Debts on Your Credit Report

Eugene
Date: 3/5/2001 1:03 pm CDT

Are there any companies who guarantee a approval no matter the status of your credit history?

Even if there are, you wouldn’t want to deal with them because they will charge you a small fortune. You might get much better terms if you look at your credit report and choose a potential creditor based on that. Besides, as Linda said, all your negative information might drop off very soon, if not already.

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Posted: Thu Sep 23, 2004 11:17 pm
Post subject: How Long are Bad Debts on Your Credit Report

mom
Date: 3/5/2001 9:28 pm CDT

I agree with the other posters. You really should check your reports, if these debts occured around 7 years ago, they very well may be off your reports. I would check all three reports and then you may know which route to take.